De­term­in­ing the Ap­plic­able Law for Surety­ship Con­tracts Con­tain­ing a For­eign Ele­ment

De­vel­op­ment sum­mary

Melek Atalik ex­am­ines how the ap­plic­able law is de­term­ined for surety­ship con­tracts con­tain­ing a for­eign ele­ment. Al­though surety­ship is ac­cess­ory to the prin­cip­al ob­lig­a­tion, it re­mains a sep­ar­ate con­tract and may there­fore con­tain a for­eign ele­ment in­de­pend­ently of the prin­cip­al con­tract. Its func­tion is to secure the cred­it­or’s claim if the debtor fails to per­form the un­der­ly­ing ob­lig­a­tion.